Business, international

Wheels on hire

Article Abstract:

Many small and medium sized businesses are choosing to rent fleets of cars rather than operating them themselves because it is easier and cheaper. It is important that companies make sure they get a contract and service agreement which suits their needs or it may work out to be very expensive. There are four ways of acquiring a company car: buying it outright, by hire purchase, by finance lease, and by operating lease. Details are given about each of these options.

Company cars: steer clear of wheeler-dealers

Article Abstract:

UK companies seeking to lease or rent vehicles should ensure that suppliers are members of the British Vehicle Rental and Leasing Association (BVRLA). There are some 1,000 members of this body. They should assess tenders to ensure that similar items are compared such as wear and tear policy and depreciation budgets. Replacement cycles may vary as may rental holidays. Specimen rates should be provided for the key variable for the company concerned.